Get an SBA Loan for Automotive Parts and Accessories Stores

Looking for loans for automotive parts and accessories stores? The SBA may be the answer. This $240,190 automotive parts and accessories stores loan was issued by a Mississippi bank.

This company knew how to go about getting a business bank loan. Based in Forest, Mississippi, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was The Bank Of Forest, based in Forest, Mississippi.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE PARTS AND ACCESSORIES STORES
FOREST, MS 39074

SBA Loan Lender

THE BANK OF FOREST
211 W THIRD ST
FOREST, MS 39074

This lender issued this loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441310 - Automotive Parts and Accessories Stores

Loan Approval Date

6/20/2007

Loan Approval Gross Amount

$240,190

Loan Approval from the SBA

Of the total $240,190 loan amount, the SBA guaranteed $180,142.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

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